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50 best data possible.119With over 30 million guests per year, Airbnb would struggle to individually review all of the information it receives.120Instead, it relies on complex data management systems to make decisions about community growth, product development, and resource prioritization.121Currently, data initiatives are used to determine and track host preferences, ensure diverse hiring, and to determine what guests are more likely to book again in the future.122Along with its superior design, Airbnb has also led in innovation ever since it first entered the market.123It was one of the first companies to effectively utilize a sharing economy in a way that appealed to consumers. As it grew, it continued to add value for its customers by adding new services that aligned with Airbnb's business model. Airbnb has expanded into postings for photographers, personal chefs, and is looking into adding airfare to its site.124New services such as these can help Airbnb add variety to its product offering and assist their efforts to adapt to new markets. The new “Experiences” feature moves Airbnb further toward full-service travel offerings,125and the addition of community involvement information to its website has allowed it to become more integrated into the lives of its consumers.126Innovation is particularly beneficial in the hotel and travel industry. The market is highly saturated, and Airbnb’s ability to creatively problem solve gives it an edge over its 119120121122123124125126
51 competition.127The unorthodox approach Airbnb takes to solving its customers problems is a unique competency it can leverage across multiple businesses and platforms going forward. The ability to find rentals that meet segment needs is another core competency. Airbnb caters to four primary segments: business professionals, millennials, event-goers, and group/family travelers. Airbnb is especially well structured to cater to business professionals due to its partnerships with businesses such as Hyundai and Dominos128. The primary needs for business professionals were: wireless internet, a desk, 24-hour check in, and privacy129.